Free Business Plan for Life Coaching: A Simple Guide

Are you looking for a free business plan for life coaching but do not know where to start? With so many free business plans for life coaching on the Internet, there’s a need to know the important components included in these plans. Let’s dive into the details.

Free Business Plan for Life Coaching: A Simple Guide

Free Business Plan for Life Coaching: Important Elements to Consider

Any free business plan for life coaching includes the following items, often in this order depending on the type of company. Before you draft your business plan, it’s a good practice to write out the specifics of your business, company goals, budget, financing needs, and at least 3-year financial projections.

Company Description

This section includes a coherent or intuitive explanation of what you do or produce, your life coaching company’s competitive advantage, an overview of how customers use your product, and a roadmap for how long it will take to achieve significant revenue and return on investment. 

Market Analysis

A market analysis is an essential step in understanding your company’s external environment. 

It can include an examination of the following aspects:

  • A SWOT analysis (strengths, weaknesses, opportunities, and threats) 
  • Cost structure and margins 
  • Competition and pricing pressures within and outside the coaching industry 
  • Customer needs/wants/behaviors 
  • Internal organization capabilities, including sales force strengths or weaknesses, manufacturing capacity, or constraints.

A market analysis helps you understand whether demand is sustainable or ephemeral. 

Marketing Strategy 

The goal of marketing is to establish an understanding of potential clients and their behaviors. It requires establishing who might need your products or services according to their age group, socioeconomic level, and geographic location. Businesses often use the principles of mass marketing when conducting these activities. 

Mass marketing often entails broadcasting identical messages via all available media or channels to meet demographic groups with maximum efficiency in a minimal time frame. In this age of technology, social media is one of the best ways to broadcast your marketing messages to a large number of people at a time. 

Financial Projections

In a business plan, financial forecasts are often an overview of the main financial assumptions based on the projections. Accounting software is not required to create profit and loss forecasts. 

Financial planners generate financial forecasts using historical data from similar companies in the same industry and estimated revenue and expenditure figures to predict a company’s future profitability by constructing an Income statement and a Balance Sheet for their hypothetical business plan instead of relying on traditional accounting software. Coaches can use what they learn from this exercise to make better-informed decisions about how they make financial projections for their business plans. 

Several examples of well-written business plans are available on the web. You can find them with a little search engine research. You can also take online courses in developing a business plan. The more you can learn before beginning, the better. The opportunity is out there, waiting to be grabbed, but you must put your best foot forward if you want to get a piece of it.

By the way… you’re invited to claim your FREE step-by-step “30-Days to Become a Coach” video toolkit. Just go HERE now to get your 30-day coaching blueprint videos.

Jeannie Cotter
Editor/Writer
Writer, Coaches Training Blog community